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John Maynard Keynes is the grandfather of all modern mainstream economic thought. Richard Nixon was famously attributed as saying, “We are all Keynesians now” whilst slamming shut the gold window and launching the era of global fiat money. (Nixon didn’t really say this, it was actually Milton Friedman)

The phrase came back in vogue in the aftermath of the Global Financial Crisis when neo-Keynesians like Paul Krugman called for, and got, massive government and Central Bank intervention into the global economy in order to “save it”.

Back in 1930, Keynes looked out into the future and saw that with the proper management of the economy, monetary policy and the like, the world could attain a type of utopian stasis:
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Gandhi was once asked, “What do you think about Western Civilization?” to which he famously replied “I think it’s a good idea.” He may as well have been talking about free market capitalism.

Capital in the 21st Century has hit the world like a new teen idol sensation. Everybody is drinking the Kool-Aid and it’s being held up as the most important book ever written on the subject of how runaway capitalism leads to wealth inequality. Paul Krugman of course,
loves it. As does every head of state and political hack in the (formerly) free world. A text-book sized brick that can be condensed down to a couple bullet points:
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BoingBoing called it
“A great punk anthem”. If I get hit by a bus tomorrow I won’t have to worry about “dying with my music inside me”, as this song and the video pretty much says all I have to say. On everything.

How could the destruction of the single, largest chunk of the bitcoin economy be
good for bitcoin, and good for free markets?

How can a market value of anywhere between 20% and 30% of the dollar value of entire bitcoin economy going up in smoke prove, finally, beyond a shadow of a doubt that purely free markets, unregulated from government intervention are superior in all ways to government regulated, centrally planned economies?

Our starting point, because people will go here almost immediately, is the utterly baseless assertion that had bitcoin only been regulated, this sort of thing would have never been happened.
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